News
Broker completes first acquisition since MBO
Hastings Direct has agreed to acquire Renew Insurance Services Limited, the specialist broker with its two main brands: Renew which works to address the insurance needs of the over 40s, and Likewise, which works with younger customers. The acquisition is…
Hastings Direct to pilot high street branches
Hastings Direct has today announced its intention to invest in a series of brand new High Street shops.
Travelers Q1 net income drops 32%
Travelers, the US insurance giant, reported first quarter net income dropped 32% to $662m from $967m at the end of the first three months of 2008.
The Hartford reports $1bn loss in Q1
US insurance giant The Hartford continued to struggle, reporting a loss of over $1.02bn in the first three months of the year.
Odyssey Re Q1 net income dwindles
Odyssey Re, the US reinsurer, said that net income fell to $0.9m in the first three months of 2009, down from $249m for the first quarter of 2008.
Transatlantic Re Q1 net income off 35%
Transatlantic Holdings, the US reinsurance giant, said that first quarter net income dropped nearly 35% to $75.2m from $115.7m the year before.
Canada Life launches one time underwriting on group life schemes
Canada Life has announced the introduction of one time underwriting to Group Life schemes, following the launch of one time underwriting on Group Income Protection schemes last year.
Unum increases maximum benefits
Unum has increased its maximum benefit limits, offering annual cover of up to £250,000 a year on its Personal and Primary Income Replacement Plans.
LV= free CI offer for new IP customers extended until end of year
LV= has extended its free critical illness (CI) cover offer to the end of 2009. All new customers taking out an income protection (IP) policy under the LV= Flexible Protection Plan by 31 December 2009 will receive free lump sum CI cover equivalent to…
Ironshore recruits more from AIG
Ironshore's hiring of former AIG staff continued unabated this month, with the Bermudian (re)insurer...
Deal or no deal Validus will grow, says Noonan
Bermudian (re)insurer Validus has said that it will grow its operations even if its $1.68bn takeover...
Lloyd's looks at options for an Islamic syndicate
Lloyd's has said that it is currently researching the viability of a retakaful syndicate - but has d...
A familiar feel to Bermuda results
The first wave of quarterly results from Bermuda showed the usual pattern - solid underwriting perfo...
Renaissance syndicate gets green light from Lloyd's
As revealed by Reinsurance, Bermudian (re)insurer Renaissance Re has received approval from Lloyd's ...
Recruitment moves
Specialist broker THB Group has appointed Steve Matanle as chief executive of its London-based Lloyd...
NY regulator acts over Allstate chief admission
The New York State Insurance Department has asked Allstate to report its unregulated writing of cred...
Catlin ready to enter short-term life market
Catlin will commence writing selected classes of short-term life insurance and reinsurance, effectiv...
Lancashire expands Octopus' reach in Gulf of Mexico
Lancashire, the Bermudian specialist insurer, is expanding its Gulf of Mexico windstorm protection f...
AIU independence moves a step closer
AIG is to accelerate steps to position its general insurance business AIU Holdings as an independent...
'Satisfactory' quarter for Munich Re
The first quarter of the year will be a 'satisfactory' one for Munich Re, said the group's chief exe...
Hero founder Cosh takes on new role
Hero founder Paul Cosh is joining accident management company ULR as commercial director with effect from 1 May.
Ren Re confirms Lloyd's syndicate
As revealed by Reinsurance, Bermudian (re)insurer Renaissance Re today said that it has received approval from Lloyd's to establish a new syndicate to be known as RenaissanceRe Syndicate 1458.
Tax changes could prompt competitive era for UK insurance market
Alistair Darling's latest plan to scrap corporation tax on dividends and other distributions received from UK companies for the Lloyd's market, will undoubtedly enhance the level of competition within the market, according to Datamonitor.
Companies need to prepare for the event of a pandemic says risk consultancy
Control Risks, the international business risk consultancy, has warned organisations to review their business continuity and pandemic preparedness plans in order to limit the impact to themselves and their workforce in the event of a pandemic.